The covenant of the Lord is objective. It exists in the world, within the course of history. We are living in the times of Regeneration that the Lord Jesus told us about.
But in saying that the covenant is objective, we do mean that it is to be understood as a mechanical thing, grinding away. Rather, a covenant is a relationship between persons, and the Bible teaches that there is mutuality in this covenant.
The hypocrite thinks that the covenant binds God to him, but forgets that the covenant binds him to God. The legalist remembers that he is bound to God, but thinks that his obligations are to work and labor in his own strength in order to have something to present to God. This also is covenant-breaking.
There is mutuality in the covenant, which means that a response is demanded from you. This thing that is demanded from you is also given to you, so that no one can boast. But that response is the response of faith.
As we come to the Table, there is one thing needful. Believe the Lord. Listen to His Word, and believe. Chew and swallow the bread of the loaf which is the body of the Lord in the congregation surrounding you. Believe this, and be at peace with all your brothers and sisters. You are not just to read the New Testament, or to hear it read. You are to drink the New Testament, drink it down and you are to do so in faith.
It is physically possible to do all these things without faith, but if you are guilty of such a folly, you are not guilty of non-covenantal practices, you are guilty of covenant breaking—the sin of unbelief. Unbelief proceeds from a hard heart, so today if you hear His voice do not harden your hearts as you did in the wilderness.
The Table is set for you, and all the baptized are invited. But you must come believing God, you must come in faith.